{"id":52158,"date":"2015-12-30T11:09:20","date_gmt":"2015-12-30T05:39:20","guid":{"rendered":"http:\/\/www.mapsofindia.com\/my-india\/?p=52158"},"modified":"2016-05-16T18:03:21","modified_gmt":"2016-05-16T12:33:21","slug":"start-up-india-stand-up-india-pm-modis-job-creation-drive","status":"publish","type":"post","link":"https:\/\/www.mapsofindia.com\/my-india\/government\/start-up-india-stand-up-india-pm-modis-job-creation-drive","title":{"rendered":"Start-up India, Stand-up India: PM Modi\u2019s Job-Creation Drive"},"content":{"rendered":"

\"Start<\/a><\/p>\n

Come 16 January 2016, PM Modi will unveil the objective and policy framework of his latest initiative \u2018Start-up India, Stand-up India\u2019, which is aimed at promoting innovation as a means to promote entrepreneurship that will lead to job creation.<\/p>\n

PM Modi first spoke of his idea during the Independence Day speech at Red Fort earlier this year and mandated the Department of Industrial Policy and Promotion (DIPP) to begin dialogue with various stakeholders and prepare the policy framework to drive the initiative.<\/p>\n

In his last address to the nation on \u2018Mann ki Baat\u2019, his Radio talk show, Modi re-iterated his government\u2019s intention to give impetus to the innovative and creative spirit amongst young India and build a government supported eco-system to harness this potential.<\/p>\n

Read:\u00a0Stand Up India\u2019 Scheme, Credit Guarantee Fund for SC\/ST and Women Entrepreneurs<\/a><\/p>\n

The Start-up India, Stand-up India Government Plan<\/h2>\n

As per the latest NASSCOM Start-up Report 2015, start-ups created 65,000 new jobs in 2014 and by 2020, the number is expected to touch 2,50,000. That\u2019s an ambitious plan and as of now, driven almost entirely by private sector initiative. If PM Modi succeeds in establishing a pro-active start-up eco-system as intentioned, then the potential for new job creation will be far greater than NASSCOM\u2019s projections.<\/p>\n

The international business community accepts India as one of the most attractive destinations for investments and of late, has discovered India\u2019s potential for innovation and creativity. The last three years has seen significant scale up in international investments in start-ups and this has led to skyrocketing valuations, exceeding $ 1 billion in some cases, a phenomena that would have been unbelievable just five years ago. And this has been achieved with little or no support from the government.<\/p>\n

PM Modi rightly recognizes this fact and understands that this is the right time to bring in the government to define a conducive policy framework, backed by necessary financial and tax incentives, and nurture the creative and innovative potential of the youth. He also sees the downstream benefits of job creation in smaller towns and villages.<\/p>\n

Towards this, the government plans to form a secretary level inter-ministerial panel comprising representatives from various ministries like biotechnology, science & technology, information technology etc, which will work in coordination with DIPP to evaluate proposals based on innovation and commercial potential.<\/p>\n

Furthermore, the government plans to connect the youth, through IT access, with knowledge base and mentorship available from academic institutional network including IITs, IIMs, NITs and leading central universities, who will extend help to these potential entrepreneurs across India.<\/p>\n

The panel will act as a guide to ensure that the potential entrepreneur is able to set-up his business without too much red tape and is able to access finance on easy terms to launch his business.<\/p>\n

Potential spoilers to Start-up India; Stand-up India<\/strong><\/h3>\n

As with any central government initiative, the success of a programme lies in its ability to percolate its benefits to the intended beneficiaries. In this case, the government will have to address all issues not just at the policy level, but ensure its implementation at the grassroots i.e. the Tier II, Tier III towns and subsequently at the village level.<\/p>\n

The Problem Areas:<\/h3>\n